I'd say CBA's SP will see $100 coming IMHO, market sellers might have been burst with the rate decision leaving NII to go up.
Australia (and its biggest lender, CBA) have low risk of bad debts in full recourse loans (only states in U.S. that had property and unemployment unscathed in the Great Recession were those with full recourse loans, states with non-recourse loans had foreclosures, non-farm payroll blights and still have boarded-up neighbourhoods).
Australia has little of those non-recourse issues. CBA is priciest player, only passed on 20 bps, other banks r about 20 bps cheaper with lower credit.
3 reasons to sell your cba shares, page-239
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Last
$138.13 |
Change
3.230(2.39%) |
Mkt cap ! $231.1B | |||
| Open | High | Low | Value | Volume |
| $137.04 | $138.13 | $136.54 | $588.4M | 4.427M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 122 | $137.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $138.15 | 1500 | 2 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| CBA (ASX) Chart |